HOW TO TRADE FOREX WITH WILLIAMS PERCENT RANGE ~ online forex trading business
Williams Percent Range (WPR) is an oscillator, which is highly responsive to the trend. Traders who are trading for medium, long term or more than 12 hrs, may not see any significance of this indicator. This indicator is mainly effective for scalping.
This indicator moves withing 0-100 range, leveled with -20 and -80. The reading below the -80 indicates the over sold condition, and the reading above -20 indicates the over bought condition. These are basic principle of trading with Williams Percent Rang.So, it is suggested that the traders should go long when the Williams Percent Range is below -80 and go short when the Williams Percent Range is above -20.
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| metatrader4.com |
To avoid the false signals from Williams Percent Range traders add Moving Average and Williams Percent Range together in a single window. Here, traders go long when the Williams Percent Range cross the Moving Average from down, and go short when Williams Percent Range cross Moving Average from up. The period of the both indicator is same, generally 14.
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| metatrader4.com |
In fine, I will suggest that the signals from the Williams Percent Range should be confirmed by the Fibonacci Retracement, Fibonacci fan, other chart pattern breakout and by signals from other indicators.
Dear traders, if you have any other effective use of Williams Percent Range, please share with us in the comment section below. You can also mention me on twitter @albab247.
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